<div id="readability-page-1"><div><p>UBS published a report stating that CSPC PHARMA (01093.HK)<span> </span><span> -0.110 (-1.563%)  </span> <span> Short selling $114.36M; Ratio 13.648%  </span>  recorded revenue of RMB6.5 billion in 1Q26, down 7.8% YoY, exceeding both the banks and market expectations. Net profit fell 41.8% YoY to RMB860 million, below the banks and market forecasts. Excluding the impact of licensing fee income, net profit declined 7.3% YoY to RMB736 million.</p><p>Management attributed the recovery in finished drug sales growth to increased usage of NBP and TNK in hospital emergency departments. Regarding recent policy changes of concern to investors, CSPC PHARMA believes the impact is limited, noting that its sales team is well prepared to meet the relevant requirements.</p><p>The bank expects the USD1.2 billion upfront payment from AstraZeneca PLC Ordinary Shares (AZN.US)<span> </span>  <span> </span>   to be booked in 2Q26, while multiple licensed assets are progressing smoothly, with GLP/GIP and Amelin likely to trigger milestone payments soon. UBS assigned a TP of HKD10.9 to CSPC PHARMA and maintained a Buy rating. (da/j)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-05-28 12:25.) (Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)</p></div></div>

01093

<p>UBS reported that CSPC PHARMA's 1Q26 net profit fell 41.8% YoY to RMB860 million, missing forecasts, while revenue was RMB6.5 billion, down 7.8% YoY but exceeding expectations. The bank maintains a Buy rating with a target price of HKD10.9, citing strong drug sales growth and limited impact from recent policy changes. The USD1.2 billion payment from AstraZeneca is expected in 2Q26.</p>

UBS: CSPC PHARMA 1Q26 Net Profit Misses; Revenue Beats; Rated Buy